Media Advisory - Protect Yourself While Buying U.S. Vacation & Investment Properties

THIS UPDATED ADVISORY IS TO REPLACE THE VERSION DISTRIBUTED PREVIOUSLY

Diane Olson, a noted expert on how Canadians can purchase U.S. property, will appear as a guest speaker at the RBC event in Calgary on June 5

CALGARY, June 5, 2012 /CNW/ - Canadians anxious to purchase vacation or investment properties in the Sun Belt state of Arizona had better act promptly if they want the biggest savings, according to cross-border real estate expert, Diane Olson of the Diane Olson Team.

"The most significant change in the Arizona marketplace," Olson said, "is that the inventory of homes listed on the MLS has dropped from a market high of 50,000 to fewer than 13,000 today. Shrinking inventories usually mean only one thing - bidding wars are becoming much more commonplace."

Though prices are no longer at rock-bottom, Olson said there are still opportunities for savings in Arizona. "Prices are still off market highs, the dollar is strong and interest rates are low. This combination continues to make Arizona an attractive opportunity for Canadian investors."

However, many purchasers only have a vague idea of the potential pitfalls and some of the procedures that they need to be aware of before arranging financing on that dream vacation or retirement house. Navigating the American real estate market can be tricky from a financing standpoint and there are very different tax regulations in the U.S. that could significantly affect you on your purchase decision.

Before purchasing, Olson said it is crucial to get expert advice in many areas before making any decisions.  "For instance, many of my clients arrange financing in Canada to avoid fluctuations in the dollar," she said, "and because it's a marketplace they're most familiar with."

Director of Sales and Business Development for RBC Bank, Alain Forget emphasized, "If you are thinking of purchasing any property south of the border doing your homework and getting good advice is critical.  Talk to your banker before you go south to confidently know your financing options."

In response to the rising demand for clear information on U.S. property purchases and financing advice, a number of noted experts will be in Calgary June 5 at an RBC-sponsored event to offer free learning sessions to help people be better prepared and more informed on American property purchasing opportunities.  The experts presenting at the session include Steve Levy, an attorney who specializes in cross-border tax, estate-planning and real estate, and Canada's go-to realtor for Arizona property, Diane Olson, as well as Michele Birch of RBC Bank. RBC invites all interested people to attend one of the complimentary learning sessions being offered.

Calgary - Tuesday, June 5, 2012
Hotel Blackfoot Ballroom
5940 Blackfoot Trail SE
Calgary, AB T2H 2B5

6:30 p.m. - 7:00 p.m. Reception with refreshments
7:00 p.m. - 9:00 p.m. Presentation

Online registration at http://calgarypmjune5adviceevent-eorg.eventbrite.com/

About RBC Royal Bank
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization, and among the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 79,000 full- and part-time employees who serve close to 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 56 other countries. For more information, please visit rbc.com.

To book an interview with Diane Olson or Steve Levy June immediately following the June 5 presentation please contact:  

Jo-Ann Fraser - 403.860.0380 or [email protected]